Avenue Supermarts Limited has been penalized ₹55.75 lakhs by the Gujarat International Finance Tec-City Company Limited. The penalty stems from non-compliance with a prescribed project completion timeline. While the financial impact is limited to the penalty amount, the company stated there is no material impact on its operations or other activities.
Regulatory Penalty Imposed
Avenue Supermarts Limited announced on October 27, 2026, that it has received a direction resulting in a penalty of ₹55.75 lakhs. The authority imposing this penalty is the Gujarat International Finance Tec-City Company Limited.
Reason for Penalty
The penalty has been levied due to alleged non-compliance with the prescribed project completion timeline. The company received the communication regarding this direction on October 26, 2026.
Impact on Operations
The financial impact of this directive is quantifiable and limited to the extent of the imposed penalty. Avenue Supermarts has clarified that there is no material impact on its financial, operational, or other activities as a result of this notice.
Source: BSE
